Key indicators

leading positions in expanded hydrocarbon production

Proven hydrocarbon reserves (PRMS-SPE) Data does not include reserves and production volume at NIS.
(mn TOE)

The resource base of the Company’s current assets has deteriorated in terms of the remaining commercial reserves as most fields are in a late stage of development. Nevertheless, the Company managed to improve the efficient development of these reserves through high-tech drilling and the use of tertiary methods for boosting oil recovery.

Hydrocarbon production (mn TOE)

Increased production at the Novoportovskoye, Messoyakha, and Prirazlomnoye fields as well as in Iraq enabled the Company to increase hydrocarbon production YoY.

Balanced refining

Oil refining For the Group as a whole, including refining both at its own refineries and joint venture refineries. (mn TOE)

Oil refining decreased by 4.2% due to modernization and scheduled repairs at the Group's oil refineries.

Strong financial results

Sales revenue (RUB bn)

Revenue increased by 20.2% including duties due to increased oil production as well as higher oil and petroleum product prices around the world and on the domestic market.

Adjusted EBITDA
(RUB bn)

Increased production at major projects (the Novoportovskoye, Prirazlomnoye, and Messoyakha fields) along with growth in retail sales and higher oil and petroleum product prices resulted in a 20.8% increase in adjusted EBITDA.

Net profit (RUB bn)

The growth in net profit was mainly due to the higher EBITDA.

Growth in oil and petroleum product sales

Oil sales (mn t)

A 16.8% YoY increase in oil sales resulted from expanded production at the Novoportovskoye, Messoyakha, and Prirazlomnoye fields and a decrease in supplies to oil refineries in Russia.

Petroleum product sales
(mn t)

Sales of petroleum products decreased slightly in 2017 due to a reduction in refining volume and fuel oil production at Russian oil refineries.

Petroleum product sales via high-margin channels (mn t)

Sales via high-margin channels grew by 3.9% YoY primarily due to an increase in retail sales of motor fuels in Russia. In addition, sales of aviation fuel increased due to greater demand for air transportation. Expanded infrastructure construction in Russia and access to new foreign markets, in turn, resulted in increased sales of premium bitumen products.

Commitment to safety, resources, and the environment

LTIFR injury rate
Number of incidents at hazardous production facilities (incidents)
Total gross air pollutant emissions (1,000 t)

The use of the latest technologies and a commitment to occupational safety helped to achieve good results.